Define and argue a business case to justify a new product

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Reference no: EM131349040 , Length:

Learning outcomes:

1 Research and evaluate an existing business; define its internal and external environments and identify a strategy to best align the business's internal capabilities with its external opportunities.

2 Research, define and argue a business case to justify a new product.

3 Communicate effectively through structured written argument in a professional report format.

4 Search for, locate and evaluate discipline specific information

Purpose and aims:

This assessment is designed to apply the knowledge and skills developed by the students to evaluating the external and internal environment in which new product is to be realised and defining strategies appropriate to its realisation. The business concept relates to a new product relevant to the company which forms the overarching focus of the learning activities of this section of the subject. In this assignment, the student is expected to analyse the external and internal environments (SWOT), identify a relevant strategy (S-0, W-O etc.), identify and describe a target market, and develop a suitable new product for the company to introduce for this target market.

Description of assessment:

Each student will be expected to choose a company from the list of companies provided (see table below choices are not limited to the list provided). Each student is then required to conduct a SWOT analysis, identifying the internal strengths and weaknesses and external opportunities and threats of the company. The goal of a SWOT analysis is to identify the critical factors that may affect your proposed business concept (or new product) and then build on your strengths to reduce your weaknesses, exploit opportunities and avoid potential threats. Students are also expected Identify and describe using segmenting variables, one target market being served by your company.

Students are required to use 3 types of resources in the marketing plan:

1. Industry reports
2. Company reports
3. Prescribed textbook

Company Name - Domino's Pizza Enterprises

Activity Detail

1. Executive Summary

2. Introduction and background to the company Half a page executive summary

Introduction to the task, definition, purpose and value of a SWOT analysis for organizations.

Introduction to the company being analysed - including e.g. RELEVANT history, current market, product lines etc

3. SWOT table On one page, present the SWOT analysis in a table format, making sure to rank the elements in each of the SWOT dimensions.

4. Findings
a. Explanation of the SWOT table Students are required to provide an overview of their findings and describe their approach and choice of ranking.

5. Recommendations
a. Target market
b. New product description
c. Customer value proposition
d. Justification of the choice of new product using at least one strategy

Identify and describe using segmenting variables, one target market being served by your company.

Describe your new product designed for your identified target market. Include the relevant marketing mix variables.

Explain the customer value provided by your new product.

Explain how their new product ‘fits' with the SWOT analysis by describing at least one strategy profile being addressed (e.g. S-O, W-O etc.)

6. References list and Appendices Students are required to use the LTU Harvard Referencing style

APPROACHING THE INDIVIDUAL REPORT- How to start

1st Step:

Select a company- Students may choose from the list provided, alternatively the student can select a company of their choice. This choice must be approved by your lecturer ensuring the selected company has an industry report and a company report ,these reports are available through IBIS world and the corporate websites.

2nd Step:

Conduct a SWOT analysis- Once the company is selected a SWOT must be performed to determine what oppoturinity are available to the firm and what weakness can be converted into strengths, based on the result a product can be recommended if no weaknesses or oppoturinity are found move on to another company.

3rd Step:

Finalising your product- the new product must be a new addition to the company not necessarily to the industry for example a vegetarian burger for McDonalds is not a new product for the company but merely an improvement on an existing product line hence will not be accepted as a viable recommendation.

The new product should be created by analysing what the company doesn't have(opportunities) and what the market demands are -This is the most important part of the assessment, critical thinking is highly recommended.

Activity

Evaluate the external and internal environment in which the business concept (or new product) is to be realised

Define strategies appropriate to its realisation. The business concept relates to a new product relevant to the case which forms the overarching focus of the learning activities of this section of the subject.

Briefly analyse the external and internal environments (SWOT)

Identify a relevant strength, opportunity

Identify and describe a target market

Develop a suitable new product for the company to introduce for this target market.

Word limit/page limit 1800 words/ 6 pages (+/- 10%), plus references (Students are required to use the Harvard Referencing style)

Verified Expert

This is an individual assignment; which portrayed the market position of Domino's pizza and making an analysis with SWOT examination tool. The detailed assignment covers the SWOT analysis and consideration of new market opportunities with a focus on the target market. Target market selected for this situation of Domino's are the people who are not taking fast food and likes to take only healthy food. So; Domino's will going to launch pizza with ingredients which are most prominent from the health point of view.

Reference no: EM131349040

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Reviews

inf1349040

1/11/2017 3:59:32 AM

Thank you heaps for the quick turnover time, I am very pleased with the result you have given me and have no issues with it. Again thank you, this is a high quality result and I appreciate that.

len1349040

1/10/2017 7:51:08 AM

Criteria Excellent (A 80-100%) Writing Clearly states the purpose, assertion, arguments and findings of the report, and supports this with evidence in a sustained and logical fashion. Creates a template for creating the report using appropriate academic language and learning conventions. Location, selection and use of information (evidence and citation) Locates, evaluates and integrates a range of relevant information (or data) into the construction of a response to the task, and uses the discipline sanctioned Harvard Referencing Style at http://www.lib.latrobe.edu. au/referencing- tool/harvard to cite sources in a timely and appropriate fashion. Consider assumptions and formulate recommendations/ strategies Demonstrates capability to apply the external and internal analyses using marketing concepts. The report’s components have been brought together logically and creatively, persuasively justifying recommendations or strategies presented.

len1349040

1/10/2017 7:50:57 AM

Ask yourself some questions Being aware of the internal & external environment will help you to focus your product on what is needed. What do you need to do to produce the product? Brainstorm all the factors that might help or harm your product Think about not just your product, but the market into which it will go. What does the market want or need? How detailed is your description? The more closely you can identify your target consumer/s, the better Brainstorm possibilities for a new product. Then combine all the above elements to clearly define the product

len1349040

1/10/2017 7:50:33 AM

There should be no plagrism. It should be on dominos pizza's. 1800 words/ 6 pages (+/- 10%), plus references (Students are required to use the Harvard Referencing style)LIST OF COMPANIES-Students may choose companies beyond this list, pending your Lectures approval. Company Name Collins Foods Group (KFC and Sizzler) Competitive Foods Australia (has KFC in WA and NT, Hungry Jacks- nationwide) Domino’s Pizza Enterprises Quick Service Restaurants (Red Rooster, Chicken Treat, Oporto) Retail Food Group Crust Pizza, Donut King, Brumby’s, Michel’s Patisserie etc Retail Zoo Salsa’s and Boost Juice Subway Systems Australia Yum! Restaurants Australia (KFC and Pizza Hut)

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